With unaudited fourth-quarter income of $8.3 million, Senseonics Holdings (SENS, Financials) added to an expected $22.5 million in overall income for 2024. Reflecting great investor confidence, the stock jumped 42.89% in after-hours trading after the news to reach $0.62.
Approved by the U.S. Food and Drug Administration, the company's Eversense 365 continuous glucose monitoring system has been a main factor for expansion. Through Ascensia Diabetes Care, a commercial partner, Senseonics introduced the device in the United States. While the number of American prescribers hit 1,000 in 2024, the worldwide patient population grew by 56% year over year to around 6,000. With record-high monthly patient shipments, December proved a turning point for the business.
Strategically, Senseonics called off a Special Meeting of Stockholders scheduled to review a reverse stock split. Management explained the choice as input from shareholders and recent share value increase. The business underlined its emphasis on financial stability and long-term development.
Looking forward, Senseonics intends to publish its full-year 2024 figures along with financial projections for 2025. Important considerations include Ascensia's marketing campaigns, financial planning, and legislative developments allowing Eversense 365 to be internationally expanded. Later this quarter, full audited figures should provide further information on the performance of the business.
